The Western Union Company
Company History
Western Union History: Founding, Growth & Key Milestones
Founded 1851 in Rochester, New York, United States
When was Western Union founded?
Western Union was founded in 1851 in Rochester, New York, United States by Hiram Sibley, Ezra Cornell, Samuel Selden and Jeptha Wade, making it 175 years old.
- Founded
- 1851
- Founding place
- Rochester, New York, United States
- Founders
- Hiram Sibley, Ezra Cornell, Samuel Selden and Jeptha Wade
- Headquarters today
- Denver, Colorado, United States
- Milestones documented
- 12 (1851–2026)
- Current CEO
- Devin McGranahan
- Acquisitions
- 3
| Year | Event |
|---|---|
| 1851 | Company organized |
| 1856 | Western Union name adopted |
| 1861 | Transcontinental telegraph completed |
| 1871 | Money transfers begin |
| 1994 | Acquired by First Financial Management |
| 2006 | Spin-off from First Data |
| 2006 | Final Telegram |
| 2009 | Acquired Custom House |
| 2017 | $586 million settlement |
| 2021 | New CEO |
| 2025 | Intermex deal agreed |
| 2026 | Intermex close delayed |
- Where was Western Union founded?
- Western Union was founded in Rochester, New York, United States in 1851. en.wikipedia.org
- Who founded Western Union?
- Western Union was founded by Hiram Sibley, Ezra Cornell, Samuel Selden and Jeptha Wade.
- When did Western Union start?
- Western Union was founded in 1851.
- How old is Western Union?
- Western Union is 175 years old as of 2026.
Founding Story
Western Union began in Rochester, New York, in 1851 as the New York and Mississippi Valley Printing Telegraph Company, organized by Hiram Sibley, Samuel Selden, and other local investors. It took the Western Union name in 1856 after merging with lines controlled by Ezra Cornell and others. In 1861 it completed the first transcontinental telegraph line, and the Pony Express shut down soon after. Money transfer was added in 1871 and later became the main business, while the telegram service faded. First Data spun off Western Union as an independent public company in 2006, and the company sent its last telegrams that year.
Founders
Hiram Sibley
Hiram Sibley helped organize the New York and Mississippi Valley Printing Telegraph Company in 1851. He led the consolidation that produced Western Union in 1856 and became its first president. He also backed construction of the transcontinental telegraph line, completed in 1861. Hiram Sibley was born in 1807 in North Adams. Sibley was born on February 6, 1807 and died on July 12, 1888. He was also a philanthropist.
Ezra Cornell
Ezra Cornell (1807-1874) built early telegraph lines and merged his holdings into the 1856 consolidation that formed Western Union. He became one of its largest shareholders and later used that wealth to co-found Cornell University in Ithaca, New York. Cornell was born on January 11, 1807 and died on December 9, 1874. He co-founded Cornell University and served as president of the New York Agriculture Society and as a New York State Senator. Ezra Cornell was born in 1807.
Samuel Selden
Samuel Selden co-founded the New York and Mississippi Valley Printing Telegraph Company in 1851 alongside Hiram Sibley (this company was later renamed Western Union). Selden held the absolute critical patent rights to the House printing telegraph, providing the foundational legal and technological monopoly that allowed the company to rapidly consolidate the incredibly fragmented early telegraph industry. Samuel Selden was born in 1800 in Lyme.
Jeptha Wade
Jeptha Wade built telegraph lines in the Midwest and brought them into the 1856 Western Union consolidation. He helped organize the western part of the transcontinental telegraph effort and later served as president of Western Union. Jeptha Wade was born in 1811 in Romulus. Jeptha Homer Wade was born on August 11, 1811 in Romulus, New York, and died on August 9, 1890. He was a portrait painter and made early daguerreotypes before taking an interest in the telegraph after moving to Adrian, Michigan, in 1840.
Key Milestones
Company organized
The New York and Mississippi Valley Printing Telegraph Company is formed in Rochester, New York.
Source: en.wikipedia.orgWestern Union name adopted
The company is renamed after merging with competing telegraph lines.
Source: en.wikipedia.orgTranscontinental telegraph completed
A telegraph line now links the eastern U.S. with California.
Source: en.wikipedia.orgAcquired by First Financial Management
First Financial Management bought Western Union out of bankruptcy in 1994, and merged with First Data in 1995.
Source: en.wikipedia.orgSpin-off from First Data
Western Union becomes an independent public company and ends telegram service.
Source: en.wikipedia.orgAcquired Custom House
The Western Union acquired Custom House for $370 million.
Source: en.wikipedia.org$586 million settlement
Western Union settles U.S. fraud and anti-money-laundering charges.
Source: en.wikipedia.orgIntermex deal agreed
Western Union agrees to buy Intermex for about $500 million in cash.
Source: ir.westernunion.comIntermex close delayed
New York approves the deal in August, while California's DFPI suspends its approval extension.
Source: ir.westernunion.comMajor Acquisitions
International Money Express (Intermex) (pending)
2025Strengthen Western Union's retail remittance business from the U.S. to Latin America and the Caribbean.
Custom House
2009Add a business-to-business cross-border payments platform.
Travelex Global Business Payments
2011Western Union bought the business payments division of Travelex in 2011.
Keep researching Western Union
Western Union Company History FAQ
When, where, and how was Western Union founded?
Western Union was founded in 1851 in Rochester, New York, as the New York and Mississippi Valley Printing Telegraph Company by Hiram Sibley, Samuel Selden, Ezra Cornell, and Jeptha Wade, renaming to The Western Union Telegraph Company in 1856.
How did Western Union build the first transcontinental telegraph line in 1861?
In October 1861, Western Union completed the first transcontinental telegraph line connecting Omaha, Nebraska, to Salt Lake City and San Francisco, instantly rendering the Pony Express obsolete after just two days.
When did Western Union introduce wire money transfers?
In 1871, Western Union introduced wire money transfers, using its nationwide telegraph network to authorize and disburse cash across cities, creating the world's first modern wire transfer service.
What technological firsts did Western Union achieve in the 20th century?
Western Union introduced the first consumer charge card in 1914, introduced telex messaging in 1958, and launched Westar 1, America's first commercial domestic communication satellite, in 1974.
When did Western Union send its last telegram?
In January 2006, after 155 years of operation, Western Union officially ceased transmission of telegrams and commercial messaging to focus entirely on global financial money transfers.
How was Western Union spun off from First Data Corporation?
After being acquired by First Financial and subsequently merged into First Data Corporation in 1995, Western Union was spun off as an independent publicly traded company on the NYSE (WU) in September 2006.
What is Western Union's 'Evolve 25' transformation strategy?
Launched by CEO Devin McGranahan in late 2022, the 'Evolve 25' strategy focuses on expanding digital wallet services, scaling branded digital transfers, modernizing agent technology, and offering multi-currency accounts.
How large is Western Union's global agent and retail payout network?
Western Union operates one of the world's most extensive physical distribution networks, comprising approximately 500,000 retail agent locations across more than 200 countries and territories.
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